Galaxy CEO Mike Novogratz has it I commented It claims that it is “a very big deal” about the establishment of a strategic Bitcoin Reserve.
According to Novogratz, the fact that the US currently has a Bitcoin Reserve would “send a message” to all countries.
blockStream CEO Adam Back is known for being quoted in Nakamoto’s atshi white paper. echo Similar sentiment in his own social media posts. Buck claims that the reserve announcement is “huge” for moving through the Overton window. He added that he added “the new ultimate reference for sovereign wealth funds, pension funds and mutual funds to add bitcoin allocations.”
As reported by U.Today, Bitcoin actually went low after its announcement. The market seemed overwhelmed by the fact that the reserves consisted solely of confiscated coins.
That said, there is space where you could potentially buy more cryptocurrency. “My guess is they’ll find a way,” Novograts said.
It is worth noting that Novogratz previously argued that the idea of backing up other assets and the US dollar (the global reserve currency) was “counter-intuitive.”
Price forecast for $500,000
As Reported by U.TodayCryptocurrency Mogul predicted that if the US created a Bitcoin reserve, the price of Bitcoin could reach $500,000.
Bitcoin is currently trading at $85,728, and despite being fully approved by the US government, it has not revived bullish momentum.
Novogratz expressed the opinion that Bitcoin needs to regain $91,000 to get back on track.
The crypto billionaire added that he is “very bullish” in the medium and long term.
